His comments pit the tiny and wealthy country against some euro zone heavyweights, which want to tighten ‘delegation’ rules in a post-Brexit Europe to attract more financial firms to their own countries.
Gramegna said Luxembourg is offering a pragmatic solution to problems Brexit will cause, by becoming a home to subsidiaries of London-based financial firms.
He also noted that a few Japanese insurers had already decided to set up subsidiaries of their London-based European headquarters in Luxembourg, with an eye on operations in post-Brexit Europe.
“We are saying delegation has worked well and is posing no problems and it should not be changed. When I say it works well, it means that investors are well protected,” Gramegna told Reuters in an interview in Tokyo.
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Learn more / En savoir plus / Mehr erfahren:
https://www.scoop.it/t/luxembourg-europe/?&tag=Brexit